Alliance Growers Corp. (CSE:ACG) has received unanimous approval for its proposed Cannabis Biotech Centre
The Cannabis Biotech Centre is the primary component of the Cannabis Biotech Complex, a proposed 62,000 square foot facility designed for the production of cannabis tissue cultured starter plants.
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Company: Alliance Growers Corp
Website: http://www.alliancegrowers.com
Stock Symbol: CSE: ACG
Date Published: Sep 10, 2018
Alliance Growers Corp., through its business partner WFS Pharmagreen, has received unanimous approval for its proposed Cannabis Biotech Centre from the Fraser Valley Regional District Electoral Area Services Committee.
The proposal now goes before the Fraser Valley Regional District Planning Board later this month.
The facility is being developed on a 26-acre parcel of land in Deroche, British Columbia, approximately 110 kilometres east of Vancouver.
The Biotech Centre will grow Cannabis plantlets using a proprietary tissue culture propagation system.
The botanical tissue culture technology allows for large-scale production of precise and consistent quality plantlets for even the most sizeable commercial ventures.
The technology can also be adapted for any plant species.
The June 2018 application to Health Canada for an Access to Cannabis for Medical Purposes Regulations license for the Cannabis Biotech Centre is currently at the review stage.
Alliance is acquiring a 30% equity interest and income share in the Cannabis Biotech Complex.
Alliance Growers has entered into a binding Letter of Intent with WFS Pharmagreen Inc. to acquire an equity stake in Pharmagreen's subsidiary.
WFS Pharmagreen is a wholly owned Canadian based subsidiary of Pharmagreen Biotech, which trades on the OTC Pinks under the symbol "PHBI".
Pharmagreen and Alliance continue to work together in identifying capital and other resources to advance the Biotech Complex, while simultaneously developing a future customer base.
Dennis Petke, President and CEO, stated: "We are very pleased to see the continuous advancements toward the building and ultimate completion of the Cannabis Biotech Complex. We are also pleased with the strong demand for our recently announced private placement which will be closing in multiple tranches over the next two weeks. The proceeds are being used primarily to advance our interest in the Cannabis Biotech Complex and to begin the build out of the BiocannaTech facility in Montreal, thus advancing the ACMPR application. This funding round is pivotal to the Company's move to the next level, confirming to investors that Alliance is executing on the development of its primary projects, in a timely manner."
Alliance Growers has entered into an exclusive agreement to acquire BiocannaTech.
BiocannaTech has submitted an application to Health Canada for building a 10,000 square foot facility with an attached 120,000 square foot warehouse, and is in the final phase of the ACMPR approval for the production and sales of Medical Marijuana.
Alliance is currently raising up to $2,030,000 through a non-brokered private placement of up to 14,500,000 units priced at $0.14 per unit.
Each unit consists of one share and one warrant with the warrant exercisable at $0.20 for 36 months, subject to an acceleration clause.
The shares are trading at $0.195.
For more information please visit the company's website www.alliancegrowers.com, contact Dennis Petke, President and CEO, at 778-331-4266, or email DennisPetke@alliancegrowers.com.
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